Google, Lakestar lead $40M funding for bitcoin start-up Blockchain

London-based bitcoin currency service provider Blockchain has raised $40 million of fresh funding, the largest Series B raised so far in 2017.

The financing round was led by venture capital firm Lakestar and Google’s investment arm GV. Nokota Management, Digital Currency Group and Blockchain’s existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin and billionaire Richard Branson also participated in Thursday’s funding round.

The recent funding brings Blockchain’s total capital raised to over $70 million, CEO and co-founder Peter Smith said in a statement. It is also the largest investment that the fintech space has seen since Brexit, although it fell short of the $55 million that blockchain start-up Ripple managed to raise from big banks in 2016.

The freshly raised funds will go towards supporting Blockchain’s global expansion plans, as well as further research and development for its product. Founded in 2011, Blockchain provides digital currency wallets and analytical tools for bitcoin’s underlying system.